SG Americas Securities LLC Buys Shares of 16,772 nLIGHT, Inc. (NASDAQ:LASR)

SG Americas Securities LLC purchased a new stake in nLIGHT, Inc. (NASDAQ:LASR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,772 shares of the company’s stock, valued at approximately $179,000.

Several other hedge funds have also recently modified their holdings of the business. ProShare Advisors LLC raised its stake in nLIGHT by 15.0% in the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock worth $150,000 after buying an additional 1,503 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of nLIGHT by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock worth $172,000 after acquiring an additional 1,886 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of nLIGHT by 9.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,913 shares of the company’s stock worth $181,000 after purchasing an additional 1,220 shares during the last quarter. MQS Management LLC bought a new stake in nLIGHT during the second quarter valued at about $197,000. Finally, The Manufacturers Life Insurance Company grew its stake in nLIGHT by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 18,681 shares of the company’s stock valued at $204,000 after purchasing an additional 1,546 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

nLIGHT Stock Performance

Shares of NASDAQ LASR opened at $10.64 on Thursday. nLIGHT, Inc. has a fifty-two week low of $8.13 and a fifty-two week high of $15.00. The company has a market cap of $506.09 million, a PE ratio of -10.43 and a beta of 2.35. The business has a 50-day simple moving average of $11.06 and a two-hundred day simple moving average of $11.62.

nLIGHT (NASDAQ:LASR) last released its earnings results on Thursday, August 1st. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.03. nLIGHT had a negative net margin of 25.62% and a negative return on equity of 19.58%. The company had revenue of $50.51 million during the quarter, compared to analysts’ expectations of $49.23 million. During the same period last year, the business earned ($0.18) EPS. nLIGHT’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, sell-side analysts predict that nLIGHT, Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Joseph John Corso sold 4,461 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total value of $51,033.84. Following the completion of the transaction, the chief financial officer now owns 171,434 shares in the company, valued at $1,961,204.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $11.20, for a total value of $168,000.00. Following the transaction, the chief executive officer now owns 1,347,781 shares in the company, valued at approximately $15,095,147.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph John Corso sold 4,461 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total transaction of $51,033.84. Following the transaction, the chief financial officer now directly owns 171,434 shares of the company’s stock, valued at $1,961,204.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,461 shares of company stock valued at $385,684 over the last ninety days. 6.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on LASR shares. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of nLIGHT in a research report on Monday, August 5th. Cantor Fitzgerald started coverage on shares of nLIGHT in a research note on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 target price for the company. Finally, Benchmark reaffirmed a “speculative buy” rating and set a $17.00 price target on shares of nLIGHT in a research report on Friday, August 2nd.

About nLIGHT

nLIGHT, Inc designs, develops, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in industrial and aerospace and defense applications.